The Live Mesh Beta : https://www.mesh.com/ is preview environment with full set of options including the File/Folder Synchronization functionality.

For developing Mesh Applications we have to use the Live Mesh CTP only.

If you have registered for both these services than probably you would have 2 clients installed on your machine :

Initially while signing in for the Live Framework client I got a message box popup saying : --------------------------------------------------------------------------------- Unable to sign in to Live Mesh.